00                             SENATE BILL NO. 76                                                                          
01 "An Act relating to private actions and remedies against real estate licensees for licensee                             
02 relationships, disclosures, and activity before January 1, 2005; and providing for an                                   
03 effective date."                                                                                                        
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1. AS 08.88.396(e) is amended to read:                                                                   
06            (e)  In a civil action arising out of [FOR] the failure of a licensee to comply                          
07       with the provisions of this section, the plaintiff's remedy is limited to the recovery of                         
08       actual damages. This subsection does not limit a person's ability to take any other                               
09       action or pursue any other remedy to which the person may be entitled under other law                             
10       except for a claim arising out of a violation of this section.                                                
11    * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to                          
12 read:                                                                                                                   
13       APPLICABILITY. This Act applies to a real estate transaction that occurred on or                                  
14 before the effective date of this Act and to an action pending on the effective date of this Act                        
01 in a court in the state relating to a transaction that occurred on or before the effective date of                      
02 this Act in which a final judgment has not been rendered before the effective date of this Act.                         
03 In this section, "real estate transaction" has the meaning given in AS 08.88.990.                                       
04    * Sec. 3. The uncodified law of the State of Alaska is amended by adding a new section to                          
05 read:                                                                                                                   
06       RETROACTIVITY. Section 1 of this Act is retroactive to January 1, 1991.                                           
07    * Sec. 4. This Act takes effect immediately under AS 01.10.070(c).